The Goblin Town NFT Collection is getting a lot of traction these days. They have overtaken the BAYC NFT collection in terms of trading volume and sales. Let’s find out what they are and why have they gained so much fame over a short period of time.
About Goblin Town NFT Collection
Goblin Town NFT project is a collection of 9,999 NFTs built on the Ethereum blockchain. Unlike other NFT collections, the NFT drop didn’t involve any collaborations, campaigns, whitelisting, or anything, yet managed to create an effortless buzz in the NFT community. Its website ‘goblintown.wtf’ clearly mentions that the project has no roadmap, utility, Discord channel, or anything else. These NFTs were free to mint and thus investors just had to pay the gas fees to mint these NFTs
the Goblin Town NFT collection was launched on May 19, 2022, on OpenSea NFT marketplace when the whole crypto market was struggling. Irrespective of the market conditions at that time, the collection still managed to gain popularity because of its simplicity and originality. The prices of these NFTs range from 2.8 ETH to 2,900,000 ETH.
Another Reason for the popularity of the NFT collection is its CCO (creative commons zero) which means ‘No Copyright Reserved’ in general terms. Under this, goblin NFTs are free to be repurposed as per the owner’s discretion such that they can commercialize the NFTs as they want. This is quite similar to the BAYC collection as they also allow people to make derivative works such as animation, producing copies, stories, and much more. To learn more about the BAYC collection click here.
Controversy
Note that, out of 9,999 Goblin Town NFT characters, 1,000 are reserved for its creators. Moreover , the smart contract of the Goblin Town NFT has not been audited yet. Furthermore, many people are criticizing the fact that the NFT collection don’t have any roadmap, pre-sales and whitelisting procedures.
Usually, these kinds of NFTs are subject to speculation and thus it can damage the interests of the investors. Therefore, a proper research is needed to invest in such kind of NFTs.
